Oi SA: Important fact – Postponement of the publication of the financial statements

Oh SA under judicial reorganization Federal taxpayers (CNPJ/ME) n° 76.535.764/0001-43

Chamber of Commerce (NIRE) No. 33.3.0029520-8

Anonimous society


Postponement of the publication of the financial statements

O SA in judicial reorganization (“Oi” or the “Company”), pursuant to Article 157, paragraph 4, of Law 6,404/76 (the “Brazilian Company Law”), and CVM Resolution 44/2021, hereby informs its shareholders and the market in general of the following:

As previously announced to shareholders and the market at the end of January and mid-February 2022, the National Telecommunications Agency ANATEL and the Executive Board of the Economic Defense Council CADE, approved the sale of Isolated Production Units, or “UPI Mobile Assets”, which enabled Oi to segregate assets for the three SPEs, which includes UPI Mobile Assets and is necessary for the Company to complete the sale of said UPI.

Additionally, as already announced in October 2021, an investment agreement was signed for the sale of the majority stake of UPI InfraCo, which was approved by CADE in October but is still pending approval by ANATEL.

In this context, mainly due to (i) the complexity of the segregation works for the three SPEs that make up UPI Mobile Assets, including the need to prepare their financial statements from February 2022 (reference date); (ii) the need to obtain independent auditor opinions for the financial statements of the three SPEs that make up UPI Mobile Assets; and (iii) the impacts caused by the sale of UPI Mobile Assets and the takeover of UPI InfraCo on the preparation of the Company’s financial statements, and, consequently, on the opinions to be issued by the independent bodynt auditors for the accounts of Oi, the Company informs that the publication of its financial statements for the 2021 financial year has been postponed from March 29, 2022 to April 27, 2022, in order to ensure the timely conclusion of these transactions and the proper communication of accurate, consistent and complete information to its shareholders and at the market.

The Company reiterates that the timely completion of the sale of UPI Mobile Assets and the takeover of UPI InfraCo are fundamental steps for it to be able to implement the transactions and comply with the obligations set out in the receivership of Oi and is part of its transformation. Strategic plan.

The Annual General Meeting of Shareholders (“AGM”) of the Company will be convened on March 30, 2002, which will be held, on first call, on April 29, 2022, according to the annual calendar of corporate events communicated by the Company. The agenda of the General Meeting will include the analysis of the management accounts for the financial year ended December 31, 2021, the election of the titular members of the Fiscal Council and their respective substitutes, and the establishment of the total annual remuneration of the members of the executive. board of directors and tax adviser. The review, discussion and vote on the annual accounts are decided upon Extraordinary General Meeting of Shareholders (“AGE”) to be convened once the audited financial statements the accounts for the 2021 financial year have been closed and published.

Anticipation of preliminary and unaudited financial information for the 2021 financial year

Due to the postponement of the publication of the financial statements for the 2021 financial year, and in order to maintain stable market expectations, the Company has chosen to anticipate certain key financial indicators for its 2021 results:

(billions of reais)


4Q21 (preliminary)

Net revenue Current EBITDA Cash

4,720 1,460 4,554

4,525 1,484 3,288


2021 (preliminary)

18,557 5,842 4,554

17,717 5,326 3,288

Note: Information for Brazilian operations.

The Company emphasizes that this information is preliminary and subject to the conclusion of the analysis carried out by its independent auditors.

The Company will keep its shareholders and the market informed of any development regarding this material fact.

Rio de Janeiro, March 25, 2022.

Oh SA under judicial reorganization

Cristiane Barretto Salles

Chief Financial Officer and Investor Relations

Special disclaimer regarding forward-looking statements:

This material fact contains forward-looking statements as defined in applicable Brazilian regulations. Statements that are not historical facts, including statements regarding Oi’s beliefs and expectations, business strategies, future synergies, cost savings, future costs and future cash flows are considered forward-looking.research statements. Words such as “will”, “should”, “will”, “must”, “anticipate”, “intend”, “believe”, “estimate”, “expect”, “plan” , “target”, “goal” and similar expressions, if related to Oi or its managerment, are intended to identify forward-looking statements. There is no guarantee that the expected events, trends or results will actually occur. These statements reflect the current views of Oi’s management and are subject to numerous risks and uncertainties. These statements are based on assumptions and factors, including general market and economic conditions, industry conditions, corporate endorsements, operating factors and others. Any changes to these assumptions or factors may affect actual results, which, in turn, may differ materially from current expectations. All forward-looking statements attributable to Oi or its affiliates, or persons acting on their behalf, are fully deemed cautionary, as set forth in this paragraph. Disproportionate reliance should never be placed on such statements. Forward-looking statements speak only as of the date on which they were made. Except as required by securities laws in Brazil and rules and regulations issued by the CVM or regulatory bodies in other applicable jurisdictions, Oi and its affiliates are not obligated, and do not have the intention, to update or publicly announce revisions to any of the forward-looking statements to reflect actual results, future events or developments, changes in assumptions or any other factors affecting the forward-looking statements. We recommend, however, that you familiarize yourself with additional disclosures made by Oi on related matters by reviewing any reports and/or notices that Oi may file with the CVM.

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